The price of two altcoins in the sub-sector artificial intelligence (AI), according to an expert crypto analyst who’s known for being timely with his predictions, is likely to continue falling.
Altcoin Sherpa informs his 215 200 followers on the social networking platform X (that Render) is a cryptocurrency.RNDRThe 0.618 Fibonacci number could be revisited by a GPU project before a bullish turn is witnessed.
“RNDR: these times are great during bull markets; you get a chance to scale into great projects at key levels. Buy from here down to $6 and feel very confident about it.”
Fibonacci Retracement Levels are used to find potential resistance and support areas. RNDR’s value is $9.06 as of the date this article was written.
Bittensor, another alternative coin on the list of traders is also a good choice.TAO( ), is a decentralized platform for blockchain that emphasizes machine learning and artificial intelligence. Altcoin sherpa believes that TAO will drop to the 0.50 Fibonacci levels to gain some support.
“TAO: The Binance listing (obviously) was a sell news event. Price is expected to drop around $400, 0.50 Fibonacci and the 200-day moving exponential average.
Price has already moved around this level. I would like to see it hold. I think the heavy volatility will lead me to believe that $320 may be a good price. next If $400 cannot hold.”
This week Binance announced TAO will soon be able to trade. TAO’s value is $479.76 at the time this article was written.
His last choice is Prom, the Interoperability Protocol (Prom).PROM). Altcoin Sherpa predicts that PROM’s range support of $9.45 will be a major sell off event.
“PROM : broken below range low. But did tag the 20-day exponential moving mean. It’s a general area of interest, and I would like to see the trade return within range.
“Close below = This one has pulled back significantly, but I am still holding.”
As of the time this article was written, PROM has a value of $11.07.
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